Brokerages predict that Cincinnati Bell Inc. (NYSE:CBB) will report earnings of $0.01 per share for the current quarter, Zacks reports. Six analysts have issued estimates for Cincinnati Bell’s earnings, with estimates ranging from $0.01 to $0.02. Cincinnati Bell reported earnings per share of $0.05 during the same quarter last year, which indicates a negative year over year growth rate of 80%. The business is expected to report its next quarterly earnings results before the market opens on Tuesday, May 9th.
On average, analysts expect that Cincinnati Bell will report full year earnings of $0.16 per share for the current fiscal year, with EPS estimates ranging from $0.06 to $0.24. For the next fiscal year, analysts anticipate that the company will post earnings of $0.25 per share, with EPS estimates ranging from $0.05 to $0.44. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Cincinnati Bell.
Cincinnati Bell (NYSE:CBB) last posted its quarterly earnings data on Wednesday, February 15th. The utilities provider reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.01. The business earned $285.30 million during the quarter, compared to analysts’ expectations of $304.02 million. Cincinnati Bell had a net margin of 11.43% and a negative return on equity of 4.95%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 earnings per share.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Cincinnati Bell by 0.5% in the third quarter. BlackRock Fund Advisors now owns 20,501,622 shares of the utilities provider’s stock valued at $83,647,000 after buying an additional 108,014 shares during the last quarter. Bank of New York Mellon Corp increased its position in Cincinnati Bell by 4.2% in the third quarter. Bank of New York Mellon Corp now owns 2,986,135 shares of the utilities provider’s stock valued at $12,184,000 after buying an additional 120,292 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in Cincinnati Bell by 7.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,343,792 shares of the utilities provider’s stock valued at $5,483,000 after buying an additional 94,289 shares during the last quarter. BlackRock Investment Management LLC increased its position in Cincinnati Bell by 0.7% in the third quarter. BlackRock Investment Management LLC now owns 965,804 shares of the utilities provider’s stock valued at $3,940,000 after buying an additional 6,652 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Cincinnati Bell by 7.0% in the third quarter. First Trust Advisors LP now owns 393,236 shares of the utilities provider’s stock valued at $1,604,000 after buying an additional 25,599 shares during the last quarter.
Cincinnati Bell (NYSE:CBB) traded down 0.27% during mid-day trading on Monday, hitting $18.40. The stock had a trading volume of 205,032 shares. The stock has a 50-day moving average price of $18.31 and a 200 day moving average price of $20.30. Cincinnati Bell has a 12-month low of $16.75 and a 12-month high of $25.65. The firm has a market cap of $775.16 million, a P/E ratio of 8.45 and a beta of 1.77.
About Cincinnati Bell
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.
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